Guarantors, collateral and documents
Securing a loan with guarantors and collateral, notes, files and signatures.
Guarantors
A guarantor agrees to repay if the borrower cannot. In SACCOs they are usually other members pledging their deposits.
| Field | Required | What it means |
|---|---|---|
| Is a member | required | Choose an existing member, or enter an outside guarantor’s details. |
| Name, gender, date of birth, marital status | outside guarantors | Identity of a non-member guarantor. |
| Mobile, email, address, country | optional | How to reach them. |
| Profession, relationship to borrower | optional | Used in appraisal. |
| Guaranteed amount | required | How much of the loan they guarantee. |
| Photo, notes | optional | Supporting information. |
Collateral
Record each pledged asset with its type (set up in collateral types), value and status.
| Field | Required | What it means |
|---|---|---|
| Collateral type | required | e.g. motor vehicle, title deed, household goods. |
| Value | required | Valuation amount. |
| Description, product name, model, serial / registration / engine number | optional | Identifies the asset. |
| Registration date, manufacture date, mileage, colour, condition | optional | Vehicle and equipment details. |
| Status and status change date | optional | e.g. held, released, repossessed. |
| Photo, file | optional | Logbook copy, valuation report, photos. |
Notes, files and signatures
Add notes and files (agreements, field-visit reports) to the loan. Where the product needs a signature, mark the loan signed when the agreement is executed, or send a reminder.
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